Accounting Rules
Form and Content of Financial Statements
Regulation S-X
Rule 6-05 -- Statements of Net Assets
In lieu of the balance sheet otherwise required by Rule
6-04 of this part, persons may substitute a statement of net assets
if at least 95 percent of the amount of the person's total assets are represented
by investments in securities of unaffiliated issuers. If presented in such
instances, a statement of net assets shall consist of the following:
1. A schedule of investments in securities of unaffiliated
issuers as prescribed in Rule 12-12.
2. The excess (or deficiency) of other assets over
(under) total liabilities stated in one amount, except that any amounts
due from or to officers, directors, controlled persons, or other affiliates,
excluding any amounts owing to noncontrolled affiliates which arose in the
ordinary course of business and which are subject to usual trade terms,
shall be stated separately.
3. Disclosure shall be provided in the notes to the financial
statements for any item required under Rules 6-04.10
to 6-04.13.
4. The balance of the amounts captioned as net assets.
The number of outstanding shares and net asset value per share shall be
shown parenthetically.
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